Banks are way too analogy?

[Agios 1763]

Now banks will also use blockchain technology, the government or banks are certainly afraid to allow cryptocurrency as a second payment tool after their local money, because cryptocurrency will disrupt their financial systems, but I believe, after banks and governments can improve their financial systems they will certainly allow cryptocurrency as second medium of exchange.

[Interface User 1070]

In our case in my country, banks are the only way to convert my crypto coins into paper money. Some companies also used banking system so it's hard to replace banks for this time.

[Sumayya 493]

They have nothing to offer but they are helpful to the people of the world by keeping our fiat secure. We can't do without fiat

[andrehol 16294]

It’s just that banks were not created to help us! Banks are created to make their owners rich at our expense! cryptocurrencies offer us more amenities and if people have a choice, they will choose crypto!

[tienda 8776]

With Bitcoin and others cryptocurrency we can find many many ways to earn money and very profitable than banks, banks exist yet before the creation of Bitcoin, are they changed the life or people? No I m not sure but Bitcoin yes.

[Romaan1987 601]

if banks start using cryptocurrencies with law and high security, there are many benefits of that worldwide.

[Soaib khan 1035]

you are right,bank technology is old. crypto currencies technology is new. and digital based. bank hating crypto currency.also some country banned crypto

Edited January 9, 2020 by Soaib khan

[littledi059 1010]

On 05.01.2020 at 07:22, jitu123321 said:

Bro bank will not get vanish in just 10 year and gov - bank are co-related becuase of profit and tax so gov can let bank down becauase of crypto which is not control by any gov so people also need bank to convert crypto to fiat so stay them as they are

No one knows what will happen. For example no one could say that the Internet would kill lots of companies several years ago, but this is what happened

[Sid 589]

In my opinion, a bank is still needed and the bank is always trying to keep up with technological developments such as e-banking etc. Although there is already a crypto currency, banks are still more widely used. 😅

[guatazoo 7150]

19 minutes ago, RawatMonika said:

Banks are utilizing old innovation. Yet, bitcoin and blockchain are new innovation banks should utilize them. On the off chance that they use bitcoin and blockchain it will be simple for us to utilize.

So you're saying that banks and cryptocurrency should work together, that even banks are oo analogy, crypto is gonna need banks and Fiat??

[BTC Future 3946]

Banks systems were the same since 1980 and never changed until recently.

They understood that competition from cryptocurrencies could become a concern in the future and they are creating infrastructure for fast and low cost transactions in secure environemnts.

They already released mobile apps where you can purchase anything through POS contactless services from your mobile using the infra-red fanction and their software.

They advance very rapidly especially in 2017 and they have a lot of concepts ready for release, such as open-banking. They still are centralized organizations though and can't ever Bitcoin on this.

[bean 515]

Banks are just too ancient, the requirement to stand in Long queues before you can transact to banks and all the control they have is just too much.

[nicolas1234789 2566]

Banks have regulation and protection from government and bitcoin doesn't have it. That's why banks still become favorite choice to replace money and doing economy transactions. Bitcoin is alternative income and payment, so different with banks actually.

[dinabolt 514]

Bank can support economy transaction using their system and legal, bitcoin only get reputation and popularity. In economic world, speed transactions is the main part of circulation. Both have that system but all economy activity should ended in bank, that's reality.

 

[Sapdrx 469]

In the Netherlands we have top digital banks who are together also working on blockchain solutions. But unfortunately they are not 100% digital. We see in Europe only a very few innovative fully digital banks like Revolut and N26.

[Roomi 1119]

On 11/22/2019 at 2:22 PM, faceless said:

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

We can not run our business and financial life without the help of banks, still crypto have not managed to get their place in financial authoritires heart but it will take some time to be adopted.

[pakjobhelp 1585]

Now the mostly bank accepted its reality that crypto currency is good worthy currency if we not accepted its people forget the bank because they full own requirement online blockchain based crypto currency. In this way the bank accept the worth of crypto currency and now own project change according to the block technologies.

[Romaan1987 601]

On 11/22/2019 at 2:22 PM, faceless said:

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

After the revolution of bitcoin and digital era, banks have also trying to digitalize their banking system, as i am seeing improvements, they have created mobile applications and we can do many of services through mobile app. If they adopt blockchain technology it will be another good step for them.

[Ali_hmwi 966]

Okay the Cryptocurrency is important now but we need paper money also everytime

untile we all take the Cryptocurrency as the only think to trade.

will be more value than gold the bitcoin next years. 

[Satya31 865]

Some extent people definitely believe in banks because they deal with the fait money and the real existed one. No one ever think about the digital money when he having the fait in hand. Because the existence make them. Bank server is too bad that they remain down maximum time. Most of the time they impair the work and make our valuable time waste. 

[MCSGlegend 2210]

I don't know, I still think that banks have their aces up their sleeves if they lose to bitcoin and blockchain. They won't just give up without a fight.

[Opinder 1310]

On 11/22/2019 at 2:52 PM, faceless said:

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

Still We need banks because crypto is not accepted everywhere so we need fiat currencies to use for daily basis. And fiat currency could be kept in banks only. Also crypto has not proper measures for safety yet.

[Yanadia 1517]

On 11/22/2019 at 4:22 PM, faceless said:

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

 This is not about believing or not but about the bureaucracy that we must go through.  For now there is no other choice but to collaborate with the Bank so that Bitcoin can be exchanged for Fiat.  It must be remembered that Bitcoin is not yet a trading exchange tool that is recognized by the entire world.  We still have to change Bitcoin to Banknotes to spend it.  We still need a bank for that.  Bitcoin is not made to tear down banks but with the aim of improving the banking system ( thats goals of BTC )

[fatima123 320]

It's clearly banks not using this kind of booming technology for fast transaction of their banking system but I read some articles now many banks are interested to use blockchain technology. 

[babaji 1228]

because we still live in a system, that system is called governments. Banks are part of the system and so are we. Yes I agree, that system has too many loopoholes, but if you exchange all your assets to crypto, and if for some reason, crypto fails, then who is there to back you up, your assets in the same system.